Wells Fargo

New Year resolutions can be difficult to make, and even harder to keep. This year, as I made resolutions around my health; spending time with family and friends; and spiritual growth, I also made a point to include financial related goals. For 2012, my family set two financial goals: to eliminate credit card debt and meet with a financial specialist to review our plans for retirement and college savings. I say family because my husband and I felt it was very important to include our five and seven year old sons in the process. They each established their own financial goal – my seven-year old decided he would save money to buy and care for a guinea pig (wonderful!).

A slowdown in the economy doesn’t have to be a barrier for starting a new business. In fact, some experts argue that, during a slowdown, you might find bargains in areas such as supplier costs and office leasing. If you decide the timing is right to start your business, remember that developing a business plan is your essential first step.

It seems like you can do just about anything from the palm of your hand these days. Send a text message to someone on a different continent, play your favorite tune from your thousand-song playlist, get directions to a restaurant in Mexico and even watch videos on your mobile device. Now, you can also add paying bills and getting a snapshot of your account information to that list.

Graduation is the start of huge changes for students who have spent years studying and training for a professional job – for example, doctors, dentists, lawyers and various business and other health care careers. After years of frugal living and racking up substantial student loan debt, a graduate embarking on a professional career likely anticipates major income potential.

You may be among the majority of couples in the nation who live on a double income, yet you may find that you have to switch from two incomes to one. One of you might go back to school; maybe you want to start a family; perhaps it’s for health reasons or some other life change you foresee. Whatever the reason, the key to moving from a double to single income household is preparing for it.